20 October 2022
MediaZest Plc
("MediaZest", the "Company” or the
“Group”; AIM: MDZ)
Trading
Update
MediaZest (AIM: MDZ), the audio-visual solutions provider, is
pleased to provide an update on current trading and performance
during the financial year ended 30 September
2022.
The operational business continued to trade well in the second
half of the year and the Company expects the full year financial
results to show a significant improvement on the prior year. Year
end cash levels are consistent with the end of the interim period
ended 31 March 2022.
The Group is expecting to complete the year-end audit during
December 2022 and January 2023 and will announce its final results
shortly thereafter.
Current Trading
Demand across key sectors including Retail, Automotive and
Corporate Office spaces continues to be encouraging with many
long-term clients including Pets at Home, Lululemon, Hyundai,
Ted Baker and HMV progressing roll
out programmes and ongoing works.
Recent new installations, events and several upcoming
opportunities within the European Union have been consummated.
Several were delivered during the financial year ended 30 September 2022, including projects in
Spain, the Netherlands, France and Germany.
As referenced in the Interim Results to 31 March 2022, in order to deliver solutions and
services more efficiently to these clients, the Board has begun the
process of establishing an EU based subsidiary; this process is
expected to be completed in the current quarter (Q1 FY23).
Recurring revenue contracts continue to perform well and the
Group has continued to build on success in this area in recent
years.
Outlook
The Board is pleased with recent progress as the Group bounced
back from the challenges of Covid-19, and is encouraged by the
outlook for the short term. Looking further ahead, the Board
remains vigilant for signs of a slow-down in client activity due to
macro-economic uncertainty in the UK coupled with global financial
headwinds, and maintains flexibility in its cost base where
possible whilst balancing its ambitions for further growth.
Differentiating the Group’s offering by emphasising new revenue
streams such as data collection and analysis, alongside the high
standards of project delivery the business is known for, is
considered to be key to building upon recent progress.
The Board continues to evaluate the potential for acquisitions
to grow the Group, should an appropriate opportunity arise.
Management remains active in this area whilst remaining committed
to pursuing such a transaction only should tha be sufficiently
attractive to shareholders in the current environment.
This announcement contains inside
information for the purposes of Article 7 of the Market Abuse
Regulation (EU) 596/2014 as it forms part of UK domestic law
by virtue of the European Union (Withdrawal) Act 2018 ("MAR"), and
is disclosed in accordance with the Company's obligations under
Article 17 of MAR.
| Enquiries: |
|
Geoff Robertson
Chief Executive Officer
MediaZest Plc |
0845 207 9378 |
David Hignell/Adam Cowl
Nominated Adviser
SP Angel Corporate Finance LLP |
020 3470 0470 |
Claire Noyce
Broker
Hybridan LLP |
020 3764 2341 |
|
|
Notes to Editors:
About MediaZest
MediaZest is a creative audio-visual systems integrator that
specialises in providing innovative marketing solutions to leading
retailers, brand owners and corporations, but also works in the
public sector in both the NHS and Education markets. The Group
supplies an integrated service from content creation and system
design to installation, technical support, and maintenance.
MediaZest was admitted to the London Stock Exchange's AIM market in
February 2005. For more information,
please visit www.mediazest.com
